Bonuses for hundreds of staff as Scottish legal heavyweight Burness Paull hails strong results

Staff bonuses are being paid after Scottish legal heavyweight Burness Paull racked up higher income and profits.

Reporting results for the year ended 31 July, the firm said turnover had risen 9 per cent to £78.6 million while overall profit increased 7 per cent to £35.7m. That has triggered an all-staff bonus that, in addition to performance-related bonuses, will see employees receive an additional payment worth the higher of 5 per cent of their annual salary or £2,500.

Burness Paull employs some 600 people, including 86 partners, across its offices in Edinburgh, Glasgow and Aberdeen.

The firm said the biggest contributors to revenue growth were its long-standing strengths in corporate finance, property, banking, funds, dispute resolution and employment. This was supplemented by strong growth in areas such as technology, restructuring and insolvency, tax and public law.

Notable activity included advising Incremental Group on its acquisition by Telefónica Tech in a transaction worth up to £175m, acting for STV during the divestment of its external lottery management business, advising Scandinavian residential property company Heimstaden Bostad on its entry to the Scottish market through a £125m forward funding deal for a 464-home build-to-rent project in Edinburgh, and repeat instructions from major technology clients such as Amazon Web Services, Comcast, ITN, Sky, Bolt and Cazoo.

The firm has also made five partner promotions as it prepares for further growth and recognises individual performance and commitment to client service. These are Edward Hunter (corporate finance), Allana Sweeney (restructuring and insolvency), Sophia Harrison (dispute resolution), Andrew Little (construction and projects) and Kirsty Morley (English real estate).

The five new partners are among 58 promotions - including six directors, 11 senior associates, 17 associates, and 19 senior solicitors - across the firm’s practice areas and three offices.

The partner ranks have also been bolstered by the addition of eight lateral hires, including two of Scotland’s top practitioners as part of a strategic move into family law, during the last financial year.

Burness Paull chairman Peter Lawson: 'This is a strong set of results, particularly in the face of economic headwinds.'

Chairman Peter Lawson said: “This is a strong set of results, particularly in the face of economic headwinds arising from global inflation and the conflict in Ukraine during the second half of our reporting period.

“It’s a challenging environment for the entire business community and our investment in talent is all about our capacity to add value where it matters most.

“Our performance is testament to the level of expertise and dedication right across the firm, and we have continued to strengthen the team with a number of well-deserved promotions and lateral hires in key practice areas where we see scope for further growth.

“Attracting, developing and retaining the right people is key to our ability to service clients. We want to make sure our people are well remunerated for the work they do, which is why the all-staff bonus is important. However, it’s also about building on our strong human and high-performing culture and ensuring that we are a diverse, purposeful organisation.”

He added: “Our strategy and the results of the last few years put the firm in a strong position, and we look forward with optimism and a readiness to support our clients to navigate the changing economic and business landscape.”